British Pound Falls Against US Dollar


The British Pound fell against the USD in Asian session. The GBPUSD pair declined was mostly attributed to the hawkish statement from the Fed. Will the pair continue moving lower?

28 September, OctaFX – The sterling traded lower against the USD in the Asian session. It reached an intraday low of 1.3075. This decline was mostly attributed to the hawkish statement from the Fed.

Today, traders will look to the important Q2 economic numbers from the Office of National Statistics (ONS). The numbers are expected to show that the economy expanded by 1.3%, which will be the same as that released in August.

The business investment growth is expected to remain at 0.8%. Elsewhere in Europe, traders will receive important employment numbers from Germany, inflation numbers from Spain, and CPI numbers from the European Union.

British Pound Falls Against US Dollar

The sterling fell against the USD in the Asian session. It is now trading at 1.3080, which is close to an important support. Further declines below this support line will be an indication that the pair will likely continue to move lower.

This is confirmed by the short and longer-term Exponential Moving Indicators which have just crossed each other in a bearish manner. In the near term, the pair could try to test the important support of 1.3000.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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